Pakistan Invites European Car Makers Renault and Peugeot for Local Entry

Finance Minister Ishaq Dar briefed representatives of two major automobile companies; Renault and Peugeot, on Pakistan’s expanding vehicular market during his recent visit to France.

On Wednesday, Ishaq Dar met with the representatives of the European companies and apprised them of the opportunities that Pakistan presented to them. He also mentioned the latest automotive policy introduced by the government, which is attractive for new car manufacturers.

It should be mentioned that the new policy allows them to play less taxes on import of parts and various other incentives that can help new entrants in the automotive field set up their operations in Pakistan.

Dar also stated that Pakistan’s economy is booming after terrorist and political setbacks in recent times. The minister also reflected on microeconomic stability, sustained gross domestic product growth, stable exchange rate and higher consumer spending.

Renault and Peugeot were also made aware of the constant demand in Pakistan’s market for new cars which is an incentive for any car manufacturer. Minister Dar invited them to join the Pakistani market and lay the foundation for newer players in this field.

Members of the two leading French automobiles appreciated the economic turnaround in Pakistan and showed their keen interest in working together.

Chairman Bol, Ambassador of Pakistan to France and French Ambassador to Pakistan also observed these meetings.